TheRumpledOne wrote:For the record, this thread is DRAIN THE BANKS REV 8.
DRAIN THE BANKS REV 8 is the topic of this thread and that is where the discussion should be focused.
I hope I have made that clear.
I didn't realise so many people would be so touchy with my valid comparison between trading and religion. No wonder so many people are murdered every year in the name of religion. Anyway, onwards.
OK. If as you seem to think, the markets are pretty random, then your logic of tight stops and allowing profits to run seems valid. The guy who runs GBot (see previous post of mine) and has a thread on the ET forum uses a bot to work the market and which loads the trades with the prevailing market direction mechanically. This way his profitable trades outnumber his losing ones. And he appears to do quite well.
However, my question is this. If you think the best methodology is tight stops, trade in one direction, let profits run, then why the proliferation of indicators ?